Merits of Budgetary Control
Write down the merits of Budgetary Control?
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Merits of Budgetary Control are illustrated below: - It is an influential tool for the reason of and profit maximization and cost control.
- It allows the management to make the most of the use of accessible resources in a good number profitable way.
- As a budgetary control is depended on a budget that sets the plan of act in respect of different functional regions of operations. Therefore, it acts as a means of statement of the policies of the management.
- It acts as signifies of communication.
- It acts as a means of improving coordination through developing team strength in the organization.
- It allows the management to take appropriate actions in regard to the unfavorable variations in the real and budgeted results.
- It allows the allocation of authority.
- It is an influential tool with the management for performance assessment.
- It also offers a basis for the establishment of the inducement systems.
The following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost
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